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Home / Tourism Analysis, Volume 19, Number 3

External Shocks and Tourist Arrivals to Cambodia

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This article investigates how external shocks affect tourist arrivals to Cambodia. The study relies on the random walk approach to test whether the shocks to tourist arrivals are temporary or persistent in nature. To facilitate the empirical investigation, the study applies and compares the results from different unit root tests and variance-ratio tests to the monthly tourists' arrival data from 1994 to December 2012. Both tests provide evidence of random walk hypothesis, implying that shocks to tourists' arrival to Cambodia have a persistent effect requiring short- to medium-term policies to combat the vulnerability due to those shocks. Public–private coordinated policies could reduce the impact, as we found that once the crisis (external shocks) is minimized, the magnitude of the shocks decays slowly.

Keywords: EXTERNAL SHOCKS; RANDOM WALK HYPOTHESIS; SIMULATION; TOURISM; UNIT ROOT TESTS; VARIANCE RATIO TESTS

Document Type: Research Article

Publication date: 01 August 2014

More about this publication?
  • Established in 1996, Tourism Analysis is an interdisciplinary journal that provides a platform for exchanging ideas and research in tourism and related fields. The journal aims to publish articles that explore a broad range of research subjects, including, but not limited to, the social, economic, cultural, environmental, and psychological aspects of tourism, consumer behavior in tourism, sustainable and responsible tourism, and effective operations, marketing, and management.

    Tourism Analysis focuses on both theoretical and applied research and strives to promote innovative approaches to understanding the complex and dynamic nature of tourism, its stakeholders, businesses, and its effects on society. The journal welcomes articles on innovative research topics and methodologies beyond the traditional theory-testing sciences, such as robotics, computational sciences, and data analytics.

    Our primary goal is to contribute to the development and advancement of new knowledge in tourism while fostering critical reflections and debates on the radical changes and evolution in tourism among scholars, practitioners, policymakers, and other stakeholders.

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